Artificial Intelligence - Mexico

The Artificial Intelligence market in Mexico is experiencing rapid growth, propelled by factors such as increasing adoption of digital technologies, growing awareness of the benefits of AI, and the convenience of online AI services. The market's elevated growth rate can be attributed to advancements in AI Robotics, Autonomous & Sensor Technology, Computer Vision, Machine Learning, Natural Language Processing, and Generative AI. These sub-markets are driving the overall market's expansion, making it a lucrative and promising industry in Mexico.

Customer preferences: The Mexican market for Artificial Intelligence is witnessing a growing preference for AI-powered solutions in various industries, such as healthcare, finance, and manufacturing. This shift is driven by the need for enhanced efficiency, accuracy, and cost-effectiveness in business operations. Additionally, the increasing adoption of digital technologies and the growing tech-savvy population in Mexico are contributing to the growth of the AI market in the country.

Trends in the market: In Mexico, the Artificial Intelligence market is experiencing a surge in demand for AI-powered solutions in various sectors, such as healthcare, finance, and manufacturing. This trend is expected to continue as businesses seek to improve efficiency and cost-effectiveness through the use of AI technology. Additionally, the Mexican government has been investing in AI research and development, indicating a strong commitment to advancing the country's AI capabilities. These developments have significant implications for industry stakeholders, as they will need to adapt and embrace AI to remain competitive in the market. Furthermore, the growing adoption of AI in Mexico could also lead to job displacement, highlighting the need for upskilling and reskilling programs to ensure a smooth transition to a more AI-driven economy.

Local special circumstances: In Mexico, the Artificial Intelligence market is experiencing significant growth due to the country's growing tech industry and investment in AI research and development. Additionally, Mexico's close proximity to the United States allows for easy access to advanced technologies and talent. However, cultural attitudes towards AI and data privacy regulations may impact the adoption and implementation of AI solutions in different industries. Moreover, the Mexican government has also launched initiatives to promote the use of AI in various sectors, such as healthcare and transportation, further driving the growth of the market.

Underlying macroeconomic factors: The Artificial Intelligence market in Mexico is heavily influenced by macroeconomic factors, such as technological advancements, government support, and investments in digital infrastructure. Countries with strong regulatory environments and significant investments in AI technology are experiencing rapid market growth, while regions with regulatory challenges and limited funding are struggling to keep up. Furthermore, the increasing demand for AI solutions in various industries, coupled with the country's growing population and economic stability, is driving the market's expansion.

Data coverage: The data encompasses B2B, B2G, and B2C enterprises. Figures are based on the funding values from different industries for the market.

Modeling approach / Market size:Market sizes are determined through a top-down approach with a bottom-up validation, building on a specific rationale for each market. As a basis for evaluating markets, we use annual financial reports, funding data, and third-party data. In addition, we use relevant key market indicators and data from country-specific associations such as GDP, number of internet users, number of secure internet servers, and internet penetration. This data helps us estimate the market size for each country individually.

Forecasts:In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited to forecast digital products and services due to the non-linear growth of technology adoption. The main drivers are the level of digitalization, the number of secure internet servers, and the revenue of the Public Cloud market.

Additional Notes: The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russian-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the market is updated on an ad-hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Data from the Statista Consumer Insights Global survey is weighted for representativeness.